Tax Law News. Crime Stories, Law on News and Legal Publications in November, 2011

Top Picks in News

Failed Solar Company's Auction Draws Bargain Hunters
New York TimesNovember 1, 2011

To some people, the bankruptcy of the solar-module maker Solyndra shows the folly of government trying to pick winners in technology markets. To others, the furor over its $535 million federal loan guarantee represents an attack on the solar industry ...more »

U.S. Scores Victory in H&R Block Merger Case
Wall Street JournalNovember 1, 2011

US District Judge Beryl Howell in Washington said the merger can't proceed because it would violate US antitrust law. Details of the judge's ruling aren't publicly available yet because Ms. Howell sealed the opinion temporarily to protect the parties' ...more »

Tax Law News and Stories

Audit Defence
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The US Government has no regard for the People or Freedom of Speech
NUG MagazineNovember 3, 2011

Taxes – taxation without representation – Harborside Health Center just got hit with a $2.4 million tax bill after an IRS audit of their 2007 and 2008 tax returns. The government ruled that the dispensary could not make normal business deductions, ...more »

Irs Filing & Compliance
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KPMG warns Middle East banks and insurers re the new US Foreign Account Tax ...
CPI FinancialNovember 15, 2011

To be FATCA compliant Foreign Financial Institutions (FFIs) have to sign an agreement with the US tax authorities (IRS) that they will identify all US tax payers in their customer base and report certain data to the IRS on a regular basis (name, ...more »

Business Audit Defence
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Treasury fouls up, but it's just a minor breach
Sydney Morning HeraldNovember 1, 2011

Auditor-General Ian McPhee highlighted the technical fouls on section 83 (''No money shall be drawn from the Treasury of the Commonwealth except under appropriation made by law'') in his audit report on Treasury's accounts. ...more »

Personal Irs Disputes
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The AM Roundup: Militias, Wikileaks, More
Wall Street Journal (blog)November 2, 2011

Targeting lawyers: Four Georgia men were charged with plotting to attack government officials with explosives and the biotoxin ricin. ”I could shoot ATF and IRS all day long. All the judges and the DOJ and the attorneys and prosecutors ...more »

Property Taxes
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GUEST VIEWPOINT: State needs to revisit tax deferral for seniors
The Register-GuardNovember 3, 2011

The program allows thousands of seniors who meet certain age and income standards to defer paying their real estate property taxes until they die or their property is sold. Counties are paid the tax due on each property every year through state funds ...more »

Corporate Income Taxes
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10-Q: MB FINANCIAL INC /MD
Middle East North Africa Financial NetworkNovember 1, 2011

As of September 30, 2011, the Company had $6 thousand of accrued interest related to tax reserves. The application of income tax law is inherently complex. Laws and regulations in this area are voluminous and are often ambiguous. ...more »

Sales Tax & Use Tax
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Tax holiday on appliance purchases this weekend
StarNewsOnline.com (blog)November 3, 2011

During those days, certain Energy Star-qualified products that meet energy-efficiency guidelines set by the Environmental Protection Agency and the Department of Energy are exempt from sales and use taxes. In New Hanover County, ...more »

Estate Taxes & Gift Taxes
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Report claims Boeing paid no taxes over past three years
Seattle Post IntelligencerNovember 4, 2011

Many of those investments are incentivized specifically by federal tax laws (reducing our tax liability) to help stimulate the economy and create and maintain new jobs – which is exactly what we have done: Boeing has added more than 9000 direct jobs in ...more »

Tax Evasion Defence
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Owner of Salinas real estate company faces tax evasion charges
Monterey County HeraldNovember 3, 2011

A prominent Salinas businesswoman has been indicted on federal tax evasion charges, the US Attorney's office announced Thursday. Cheryl Ann Savage, a resident of Monterey and owner of Steinbeck Real Estate in Salinas, was released on ...more »

International Taxation
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Break-Free Corporate Tax Code Falls Shy of Republican Rate Goal
BusinessWeekNovember 2, 2011

The analysis is being circulated one week after Ways and Means Chairman Dave Camp, a Michigan Republican, released the first slice of a proposed comprehensive rewrite of the US tax code. Democrats say the estimate reflects the difficult choices ...more »

Tax Planning
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Kansas revenue secretary to take tax tour
BusinessWeekNovember 1, 2011

Revenue Secretary Nick Jordan is planning a two-day tour of Kansas to discuss ideas for changing the state's tax code. Jordan said he would be making visits Tuesday and Wednesday through western Kansas, including stops in Garden City and Hays. ...more »

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